You are soooo smart to do this! Lucky for me I bought a cutting/craft table at Walmart ON SALE about 5 years ago. The economy was so bad that the manager actually bargained with me! That was a shock...got it for $150, assembled! Squeezed it into my Pontiac Vibe and brought it home with me. It's now a fixture in my foyer. It doesn't have much storage, but folds up very nicely so that it fits in a corner when we have company. (And that forces me to clean up!)
Now I look at craft and cutting tables and KNOW I would never pay the $$$ that is asked. I would do what you did, or something very similar. Great for you!